Topic: [GLBSE] Nyancat Financial: Your Friend for Life (see post #2 for FAQ) - page 7. (Read 17814 times)

Thank you usagi for managing this chain of events intelligently, not making any rash decisions, and being mostly frank. It's not a common sight in the Bitcoin economy right now, but it most certainly is a welcome one.

+1 Thats why NYAN.C is such a great idea. If pirate defaults, still 1-2% dividends which looks kind of like a giga share which is valued at around 1 so this share is worth value even if the principle goes to shit. I wish I thought of it.

Hmm? Are you selling NYAN.C shares at 0.90?

There may be some resolution to the above:
https://bitcointalksearch.org/topic/m.1114170

Frankly I'm happy with the statements as they exist.

I hold a balanced shot of NYAN and am happy with the management. I definitely approve the "go big or go home" risk reward ration on NYAN C.

sunday

I didn't mean to offend you Usagi.  You should be commended for making the effort that you are, and for making your books as open as you are.

What frustrates me is trying to figure out what you (and anyone else around here with self-designed financial statements) are trying to convey with your statements.

The simplest thing to make would be a Balance Sheet.  It shows what you have and what you owe at a certain point in time.  Google and wikipedia will give you copious examples to copy from.  You don't need to have taken a single accounting course to make one.  If you track your bitcoins in any common financial software (e.g. Quickbooks, possibly Quicken or gnucash) there's probably a menu option for generating and exporting one.

The thing about financial statements is, you want people to know how to read them.  That's why there are standards; in the US we go by GAAP (Generally Accepted Accounting Principles).  This makes it easy for someone who knows what they're doing to look at your company's financial condition and quickly understand the situation.  It also makes it easier to compare companies.

Most of the ppl running issues on glbse are hobbyists with little or no financial background, not professional money managers or accountants.  So it stands to reason that we get "made up" financial statements.

My comment wasn't meant as an attack, rather I was trying to point out the frustration of being told to go look at a financial statement that, while it probably makes total sense to the author, looks like nothing I've seen before.

usagi, I think what he is saying is that the financial statements provided, relative to GAAP, IAS or IFRS, look like they are scrawled with crayon on a placemat.

But I get your point about .C; but to me it is fairly moot since I hold both .C and YARR. It is going to be fun watching how you handle .C ......

Holdings:
Pirate:
-YARR
-TYGRR.BOND-P
-BIB.PIRATE
-PPT.DIV
-FOO.PPPT
-BIF.BTCST.PPT

Non-pirate (Exposure still possible)
-TEEK.B
-OBSI.HRPT
-GMVT-BOT
-Loan to NYAN.B

Assuming all the coins come back as has been said by pirateat40 (making the assumption, I know some people don't believe this will happen), there will simple be a large amount of uninvested capital until it can be invested and returns will almost certainly drop temporarily (even if just because of short-term instability from pirate closing up). Nyan.A is guaranteed, though I don't expect using the insurance will be necessary. I don't expect any impact on Nyan.B either. Nyan.C will likely float and I have no idea what the returns will be. From there I can't really say anything, hopefully Usagi can enlighten us on the plans for the further out timeframe.

PPT.DIV is now effectively worthless, so that will drop the value a bit. As long as Pirate returns the coins, the NAV shouldn't be too detrimentally affected, but the interest rates will most likely decrease, depending on what usagi does with the coins from bought-back pass-through bonds. Speaking of, do you have any preliminary plans at this point, usagi?

That may be (I don't really know how a proper statement should look) , but I'm more more annoyed by the ones that don't even try to make one at all. And they are in the majority.

I don't see a link in the op, so here it is: http://www.tsukino.ca/cpa/nyan/

Click NYAN.C in the spreadsheet to see that one.

I'm not sure how to decipher the "surprising effect on NYAN.C."

It seems none of the issuers in bitcoin land know how to make proper financial statements and it drives me crazy.

Where can I find the public books?

How do you think pirate shutting down will affect NYAN ?

Well done!

Beating Pirate's rates with a hedge on Pirate-backed assets is simply amazing.

Buying more NYAN.C

I was wondering this also.  The difference I see is you could gain/lose if the share prices of A, B, or C moved much more than NYAN.  But your dividend earnings should be equal.

Using C to leverage into B and A 

If one wanted equal exposure to A, B, and C, is there any significant difference between purchasing shares of each versus just getting NYAN?

Sold out already, anymore on the way?